Redrow posts record results in milestone year

JUST weeks before its 40th birthday North West-based national housebuilder Redrow has reported record annual sales and profits on the back of a sharp upturn in the sector.

The company, founded in November 1974 by Liverpool businessman Steve Morgan, said revenue in the year to the end of June rose 43% to £864.5m driven by a 27% increase in legal completions and a 13% jump in average selling price to £239,500 With profits up 91% to £132.6m, the group based just outside Chester, doubled its dividend to 2p per share.
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